Mubasher: Al Madar Finance and Investment recorded a positive turn in the income statements of the second quarter of 2018 against losses in the same period a year ago.

Earnings stood at KWD 11.73 million ($38.82 million) in Q2-18 versus losses of KWD 725,000 ($2.4 million) in Q2-17, according to a bourse statement on Tuesday.

During the first half of 2018, Al Madar achieved a profit of KWD 11.93 million against a loss of nearly KWD 1.01 million in H1-17.

The positive turn in H1 is attributed to higher financing and murabaha revenues in addition to an increase in net leasing revenue and a provision from financing operations.